Intel’s Executive Vice President Sandra Rivera shared that the company has already sent out samples of its Sierra Forest chip with 144 processing cores and plans to start shipping them to customers on a regular basis in 2024. Also, its Clearwater Forest processors, made with Intel’s new 18A process technology, will roll out in 2025.

The arrival of the chips earlier than experts predicted and the shift to new technology have been seen as a positive step forward by analysts. The news also got the intention of investors, who sent Intel’s stock surging after the announcement.

The company’s stock saw a 7 percent jump compared to Tuesday’s price of 29.29 and closed at $31.52 per share on Wednesday. Intel’s shares are now almost 18 percent up year to date.

Once an industry leader, Intel has lost a significant share of the market in recent years to rival AMD (Advanced Micro Devices). Some of its biggest clients, like Amazon, started making their own chips, handing an additional hit to the company’s business. By introducing advanced technology and offering its new products ahead of time, Intel now hopes to reverse its fortunes and start working its way to the top again.

The post Intel Stock Surges After Server Chips Early Arrival Announcement appeared first on theprimarymarket.com.

Reportedly, the layoff plans will become official at some point this month, with the announcement set to coincide with the release of Q3 earnings results. Some of Intel’s divisions will see more reduction than others, with sales and marketing set to have its workforce trimmed up to 20%.

The demand for PCs has been moderate in recent months after the sales skyrocketed during the pandemic. This has particularly hurt Intel considering PC processors make up the majority of the company’s business. As a result, Intel was forced to lower its forecasts for the year and now expects $65 billion to $68 billion in revenue compared to previous estimates of $76 million.

The layoffs won’t be the only big step Intel is determined to make in attempts to deal with recent challenges. Intel CEO Pat Gelsinger recently sent out a letter to the staff in which he unveiled plans to “create greater decision-making separation” between design and manufacturing teams. However, analysts are unsure whether these decisions will be enough to start changing the company’s fortunes.

Intel stock went up around 1% after the Bloomberg report went live and closed at $25.33 per share on Wednesday. The company’s shares are still 52.40 down year to date.

The post Intel Corp. Planning Significant Layoffs Amid Low PC Sales appeared first on theprimarymarket.com.

Intel’s Executive Vice President Sandra Rivera shared that the company has already sent out samples of its Sierra Forest chip with 144 processing cores and plans to start shipping them to customers on a regular basis in 2024. Also, its Clearwater Forest processors, made with Intel’s new 18A process technology, will roll out in 2025.

The arrival of the chips earlier than experts predicted and the shift to new technology have been seen as a positive step forward by analysts. The news also got the intention of investors, who sent Intel’s stock surging after the announcement.

The company’s stock saw a 7 percent jump compared to Tuesday’s price of 29.29 and closed at $31.52 per share on Wednesday. Intel’s shares are now almost 18 percent up year to date.

Once an industry leader, Intel has lost a significant share of the market in recent years to rival AMD (Advanced Micro Devices). Some of its biggest clients, like Amazon, started making their own chips, handing an additional hit to the company’s business. By introducing advanced technology and offering its new products ahead of time, Intel now hopes to reverse its fortunes and start working its way to the top again.

The post Intel Stock Surges After Server Chips Early Arrival Announcement appeared first on theprimarymarket.com.

Reportedly, the layoff plans will become official at some point this month, with the announcement set to coincide with the release of Q3 earnings results. Some of Intel’s divisions will see more reduction than others, with sales and marketing set to have its workforce trimmed up to 20%.

The demand for PCs has been moderate in recent months after the sales skyrocketed during the pandemic. This has particularly hurt Intel considering PC processors make up the majority of the company’s business. As a result, Intel was forced to lower its forecasts for the year and now expects $65 billion to $68 billion in revenue compared to previous estimates of $76 million.

The layoffs won’t be the only big step Intel is determined to make in attempts to deal with recent challenges. Intel CEO Pat Gelsinger recently sent out a letter to the staff in which he unveiled plans to “create greater decision-making separation” between design and manufacturing teams. However, analysts are unsure whether these decisions will be enough to start changing the company’s fortunes.

Intel stock went up around 1% after the Bloomberg report went live and closed at $25.33 per share on Wednesday. The company’s shares are still 52.40 down year to date.

The post Intel Corp. Planning Significant Layoffs Amid Low PC Sales appeared first on theprimarymarket.com.